Tennessee Fair Market Rent (FY2026)
South region · 72 HUD FMR areas
In FY2026, Tennessee has 72 HUD Fair Market Rent areas with a median 2-bedroom FMR of $933/month. Across the state, the 2-bedroom FMR ranges from $925 (Benton County, TN) to $1,730 (Nashville-Davidson--Murfreesboro--Franklin, TN). That median is $42 below the national median FMR of $975, ranking Tennessee #39 of 51 states (1 = most expensive). FMR is the federal voucher rent standard, not the market median.
Source: HUD USER, FY2026 Fair Market Rents (40th percentile, revised final). Data as of June 2026.
Tennessee median FMR by bedroom size
| Unit size | Median FMR (per month) |
|---|---|
| Studio / efficiency | $724 |
| 1-bedroom | $755 |
| 2-bedroom | $933 |
| 3-bedroom | $1,263 |
| 4-bedroom | $1,385 |
These are medians across the state's areas; an individual metro can be much higher or lower. The population-weighted average 2-bedroom FMR (weighting each area by its population) is $1,335.
Every FMR area in Tennessee
| FMR area | Studio | 1 BR | 2 BR | 3 BR | 4 BR |
|---|---|---|---|---|---|
| Nashville-Davidson--Murfreesboro--Franklin, TN | $1,507 | $1,578 | $1,730 | $2,211 | $2,696 |
| Memphis, TN-MS-AR | $1,060 | $1,154 | $1,274 | $1,683 | $1,959 |
Source: HUD USER, FY2026 Fair Market Rents (40th percentile, revised final). Data as of June 2026.
Detailed pages: Nashville-Davidson--Murfreesboro--Franklin, TN · Memphis, TN-MS-AR.
Frequently asked questions
What is the Fair Market Rent in Tennessee for FY2026?
Tennessee has 72 HUD Fair Market Rent areas. The median 2-bedroom FMR across them is $933 per month, ranging from $925 (Benton County, TN) to $1,730 (Nashville-Davidson--Murfreesboro--Franklin, TN). HUD sets FMRs by metro/county, not statewide, so use the area closest to where you live. Verify at huduser.gov.
Which Tennessee area has the highest and lowest FMR?
In FY2026 the highest 2-bedroom FMR in Tennessee is $1,730 in Nashville-Davidson--Murfreesboro--Franklin, TN, and the lowest is $925 in Benton County, TN. Rents are highest in the largest metros and lowest in rural counties.
Is Tennessee expensive for renters compared with other states?
Tennessee's median 2-bedroom FMR of $933 is $42 below the national median FMR of $975 (-4%). It ranks #39 of 51 states and DC by median 2-bedroom FMR (1 = most expensive).
How does FMR relate to Section 8 vouchers in Tennessee?
Public housing agencies in Tennessee set Housing Choice Voucher payment standards at roughly 90–110% of the local FMR. Your subsidy covers the gap between that standard and about 30% of your adjusted income. Contact the PHA for your county for exact figures.
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Source & accuracy
FY2026 Fair Market Rents, U.S. Dept. of Housing & Urban Development — HUD USER (public domain). State medians and ranges are computed over HUD's area-level FMRs (see methodology). FMR is the federal voucher rent standard, not the market median; verify on huduser.gov.
Last updated: 2026-06-20